Yacktman Asset Management LP Has $168.18 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Yacktman Asset Management LP lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 24.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,051,928 shares of the oil and natural gas company's stock after selling 336,506 shares during the period. Diamondback Energy makes up 2.2% of Yacktman Asset Management LP's holdings, making the stock its 18th biggest position. Yacktman Asset Management LP owned approximately 0.36% of Diamondback Energy worth $168,182,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in Diamondback Energy by 11.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock worth $1,496,859,000 after acquiring an additional 928,429 shares during the last quarter. Boston Partners raised its stake in Diamondback Energy by 12.4% during the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock worth $849,202,000 after purchasing an additional 571,820 shares during the period. Geode Capital Management LLC raised its stake in Diamondback Energy by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock worth $769,706,000 after purchasing an additional 91,605 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Diamondback Energy by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock valued at $680,649,000 after acquiring an additional 94,177 shares during the period. Finally, Demars Financial Group LLC raised its stake in shares of Diamondback Energy by 5.3% in the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company's stock valued at $655,953,000 after acquiring an additional 208,200 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FANG. Royal Bank Of Canada began coverage on shares of Diamondback Energy in a research note on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price target on the stock. Scotiabank lowered their price target on shares of Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Citigroup raised shares of Diamondback Energy from a "reduce" rating to a "buy" rating and increased their price objective for the company from $157.00 to $180.00 in a research report on Monday, April 7th. Mizuho dropped their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $193.13.

Insider Buying and Selling

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the transaction, the president directly owned 120,645 shares in the company, valued at $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.

Diamondback Energy Trading Down 0.0%

Diamondback Energy stock traded down $0.05 during midday trading on Thursday, reaching $142.07. The stock had a trading volume of 785,701 shares, compared to its average volume of 2,282,663. The firm's fifty day simple moving average is $140.77 and its two-hundred day simple moving average is $149.76. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83. The firm has a market cap of $41.51 billion, a price-to-earnings ratio of 8.70 and a beta of 1.05.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating analysts' consensus estimates of $3.67 by $0.87. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. Diamondback Energy's revenue for the quarter was up 81.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.50 EPS. Equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.82%. Diamondback Energy's dividend payout ratio (DPR) is currently 24.46%.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.